ManTech holding steady
In its first few days of trading on Nasdaq, ManTech International Corp. has seen its share price rise from its opening of $16 to $19.90 Feb. 11. The stock began trading Feb. 7.
ManTech, which provides IT and technical services to U.S. government agencies, offered 6.87 million shares and raised about $115.2 million. The Fairfax, Va., company is the first predominantly government-focused IT company to go public in nearly two years.
On tap for its own initial public offering is Anteon Corp. of Fairfax, Va. Anteon has filed with the Securities and Exchange Commission, but has not set a share price or the date for its IPO.
With the government IT market one of the few bright spots in an otherwise dull economy, analysts and industry officials are expecting other government contractors to make their debut on Wall Street.